Oil drop on Syria chemical weapons deal

Oil prices fell in Asian trade Monday after a US-Russia deal on Syria's chemical weapons averted a potential Western military strike on the Assad regime. New York's main contract, West Texas Intermediate for delivery in October eased 86 cents to $107.35 in afternoon trade, while Brent North Sea crude for November declined 95 cents to $110.75. US Secretary of State John Kerry and his Russian counterpart Sergei Lavrov reached a breakthrough deal Saturday following three days of talks in Geneva. Oil prices hit multi-month highs in early September on concerns that the US would press ahead with a punitive military strike on Syria which analysts feared could lead to a wider conflict in the Middle East.